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Halliburton announces 284 percent increase in war profits

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WorseBeforeBetter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:08 PM
Original message
Halliburton announces 284 percent increase in war profits
25 July 2005

"WASHINGTON, July 25 (HalliburtonWatch.org) -- Halliburton announced on Friday that its KBR division, responsible for carrying out Pentagon contracts, experienced a 284 percent increase in operating profits during the second quarter of this year.

The increase in profits was primarily due to the Pentagon's payment of "award fees" for what military officials call "good" or "very good" work done by KBR in the Middle East for America's taxpayers and the troops.

Despite the scandals that plague KBR's military contracts, the Pentagon awarded $70 million in "award" fees to the company, along with four ratings of "excellent" and two ratings of "very good" for the troop logistics work under the Army's LOGCAP contract.

The Pentagon has provided preferential treatment to Halliburton on a number of occasions, including the concealment from the public of critical reports by military auditors."

More at http://halliburtonwatch.org/news/earnings072205.html
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Deja Q Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:10 PM
Response to Original message
1. Will they hire? Or lay off?
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jean Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:15 PM
Response to Original message
2. when oh when will we ever learn? And when is there going to be a
special investigation of war profiteering???
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Erika Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:15 PM
Response to Original message
3. Ah, the reason for the Iraq war
One thing about Bush, he IS loyal to his corporate buds.
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WorseBeforeBetter Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:18 PM
Response to Reply #3
5. But poor Lockheed - only up 56%
Edited on Wed Jul-27-05 11:18 PM by TWriterD
By STEPHEN MANNING
The Associated Press
Tuesday, July 26, 2005; 10:03 PM

"COLLEGE PARK, Md. -- Lockheed Martin Corp.'s second-quarter earnings surged 56 percent as the defense contractor best-known for its fighter jets showed Tuesday how it has successfully shifted its focus to newer programs.

The nation's largest defense contractor has pushed to build up its government information-technology business and electronic-systems unit, which makes products like surveillance systems and missiles. Higher sales spurred by recent investments in this segment helped offset a dip in fighter jet sales.

Bethesda, Md.-based Lockheed also raised its full-year earnings outlook above Wall Street's expectations. After the news, its shares rose $1.48, or 2.4 percent, to close at $63.99 Tuesday on the New York Stock Exchange.

Lockheed reported second-quarter earnings of $461 million, or $1.02 per share, up from $296 million, or 66 cents per share, in the year-earlier period. Sales rose 6 percent to $9.3 billion from $8.8 billion."

More at http://www.washingtonpost.com/wp-dyn/content/article/20...

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number6 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:15 PM
Response to Original message
4. Halliburton the company that was once run by crooked Dick
:thumbsdown:
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Tesla Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 08:27 AM
Response to Reply #4
18. you make it sound in the past tense
his hands are in there for sure!!!
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Kalish Donating Member (402 posts) Send PM | Profile | Ignore Wed Jul-27-05 11:21 PM
Response to Original message
6. Disgusting
It almost makes you want to puke.
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Scurrilous Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:24 PM
Response to Original message
7. "What's good for the syndicate ...
...is good for the country."
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Erika Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:35 PM
Response to Reply #7
8. Not any more
What is good for Bush is good for corporate globalists.

Bush should be impeached. He hurt our country for the gain of corporate globalists.
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LSK Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:45 PM
Response to Original message
9. meanwhile Amtrak is in trouble n/t
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WorseBeforeBetter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 09:04 AM
Response to Reply #9
21. Screw that "blue" Northeast Corridor! (n/t)
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Ksec Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:53 PM
Response to Original message
10. Layoffs like these people? Doubled profits and plan huge layoff
Edited on Wed Jul-27-05 11:53 PM by Ksec
CA plans more job cuts as profit jumps
Company to ax another 800 positions under restructuring
By Michael Paige, MarketWatch
Last Update: 6:35 PM ET July 27, 2005


LOS ANGELES (MarketWatch) -- Computer Associates International Inc. late Wednesday reported its quarterly profit more than doubled, helped by a tax benefit and higher revenue, and said it would again slash 5% of its workforce in a move expected to save it $75 million a year.


The job cuts follow an earlier round of layoffs last September at the Islandia, N.Y., management software firm, under which it also handed pink slips to some 800 workers.

http://www.marketwatch.com/news/print_story.asp?print=1...

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bvar22 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jul-27-05 11:55 PM
Response to Original message
11. Anyone remember "Windfall Profits Tax"?
Didn't that used to keep Corporations from gouging?

Whatever happened to it?
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wookie294 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 12:06 AM
Response to Reply #11
13. Yeah, I remember that
I'm hoping Congress passes a "War Profiteers Windfall Profits Tax." We've got $9 billion of OUR TAX MONEY missing in Iraq. Let's recover that money by imposing a tax on Halliburton, Bechtel and the other war profiteers. There's a creative and responsible way to do it if Congress was interested.
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driver8 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 12:00 AM
Response to Original message
12. I would keep that quiet, if I were them...nothing like rubbing the
public's noses in a big pile of shit.

But then again, no one will ever investigate them so why not gloat?

Fuck you Dick Cheney.
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anarch Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 09:11 AM
Response to Reply #12
23. I think "rubbing the public's noses in a big pile of shit"
is one of the "core values" of this company.
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Tierra_y_Libertad Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 12:07 AM
Response to Original message
14. What product are they using to wash the blood off the money.
I seem to have Dylan's "Masters of War" running through my head.
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berni_mccoy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 12:09 AM
Response to Original message
15. All Oil-related and Defense Contractor Companies have profited
What most of the administration is invested in. Go figure.

Look at my sig (I've been using it a while now).
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sandnsea Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 12:54 AM
Response to Original message
16. Wow
just wow.

:kick:
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Catfight Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 07:45 AM
Response to Original message
17. But cancels Christmas party? LOL...Good for Halliburton fat-cats.
Let them get as rich as Bush will allow, it's the republician way. Republicians LOVE war, if you don't like war, come to the democratic side of life.
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Tesla Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 08:30 AM
Response to Reply #17
19. This is about as sickening as it gets!
I wonder what Cheney's bonus will be this year?????
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newportdadde Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 08:47 AM
Response to Original message
20. I should have bought Halliburton stock Jan 03.
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anarch Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 09:09 AM
Response to Original message
22. it's a good time to be a war profiteer
or a mercenary, I guess.
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slay Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jul-28-05 04:28 PM
Response to Original message
24. I'm a "good" person. Where's my freakin reward?!?!
Greedy Republican whores.
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